UNB Egypt in infrastructure and real estate deal

Union National Bank Egypt said that it intends to acquire a 40 per cent stake in Leaders Company. Leaders Company, which is based in Alexandria, specialises in process control applications. Most of its clients operate in the oil and gas, power generation, water and waste, fertilisers, iron and steel and petrochemicals business. There is as yet no word on how much UNBE paid for that stake, but it is probably not a bad move as Egypt has recently seen a lot of investment in infrastructure.